WASHINGTON (dpa-AFX) - ModusLink Global Solutions, Inc. (MLNK), designer of global value chain strategies, Tuesday said that IVS Associates Inc., the independent Inspector of Elections for ModusLink's annual stockholder meeting held on January 20, 2012, has reported preliminary voting results wherein ModusLink Stockholders have voted to re-elect Jeffrey Fenton to the company's Board of Directors and has approved other proposals. The stockholders have also elected Jeffrey Wald, a director nominee put forward by Peerless Systems Corporation.
The stockholders approved the compensation of the company's named executive officers, on an advisory basis. They also approved a yearly say-on-pay advisory votes. The stockholders approved a Tax Benefit Preservation Plan and ratification of the appointment of KPMG LLP as the company's independent registered public accounting firm for the current fiscal year. They also approved a non-binding recommendation to eliminate the company's classified Board. Before the closing of polls at the annual meeting, all proxy cards received by the company and Peerless Systems, a company which hold 2.5 percent stake in ModusLink, were submitted to the Inspector. The company said that final voting results will be announced after certification by the Inspector following any review and challenge period.
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